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1. All of the plaintiffs' claims are dismissed.
2. The costs of lawsuit are assessed against the plaintiffs.
Reasons
1. Basic facts
A. The parties’ related Seoul Jung-gu Seoul and 114 lots were designated as the redevelopment area around November 22, 1979 and the project plan was determined around November 13, 1981, and was changed on or around October 6, 2005 to the urban environment improvement zone (the business name: D urban environment rearrangement project; hereinafter “instant project”); the Defendant is the project implementer of the instant project; the Plaintiff A was the owner of 5.4 square meters in Seoul Jung-gu, Seoul and 5.4 square meters in size and 182.7 square meters in size; Plaintiff B was the owner of the said G large 268.2 square meters in size and 1/2 shares in each of the above H large 195.6 square meters in size in the instant project area.
B. 1) The Defendant participated in the implementation of the instant project on January 29, 2003, as well as I, J, K, L, and M (hereinafter “I and four others”).
(2) From August 18, 2003, the Defendant: (a) purchased the land owned by it in the instant project zone in total 32.5 billion won; (b) concluded a basic contract for real estate trade including an options agreement with the effect that the floor area ratio of the instant project would increase or decrease by 100 million won, based on 700 percent; and (c) concluded a sales contract with the Plaintiff on August 18, 2003 to purchase the land owned by it in 32.5 billion won; (b) on June 15, 2004, the Defendant paid 15 billion won out of the above sales price; (c) as the Seoul Urban Environment Improvement Master Plan was announced on February 5, 2005, the floor area ratio of the instant project to increase by 960 billion won; and (d) paid 100 billion won out of the above sales price to 4 other than 50 billion won and the above sales price to 2605 billion won out of 260 billion won.
3) Around May 2006, when the floor area ratio of the instant project area was adjusted to 962.19%, the Defendant entered into a modified contract with an I and four others on a total of KRW 29,625,760,000 according to the options agreement. (iv) The Defendant is a stock company.